Financial Transparency Nets Larger Grant
A non-profit provider of free and reduced health care services has used Fulton & Kozak for audits for 4+ years, even though there was no compliance requirement. The financial transparency the audits provided gave the non-profit an edge when they competed against other non-profits for foundation grants. Recently, this non-profit was approached by a government agency to apply for a $600,000 grant. Fulton & Kozak team leader suggested minor changes to their current procedures that would bring them into compliance for the A-133 audit standards. This small step assured a seamless transition to the more stringent Single Audit requirements the large grant required.
Without the experience Fulton & Kozak brought to their relationship, the agency would have had to scramble to meet the Single Audit requirements dictated by the sizable grant, making the grant application an even more daunting task.
Downturn Survival By Changing the Business instead of Just Hanging On
A distributor of building materials has been a Fulton & Kozak client for 10 years. During the recent economic downturn, Fulton & Kozak’s cost reporting and analysis identified cost efficiencies that allowed them to maintain a sales force robust enough to change the sales target from builders of new construction to remodeling and restoration contractors. The company has emerged from the downturn with a leaner cost structure and a better revenue stream. They are positioned to expand back to builders when the economy makes a complete recovery.
Through Fulton & Kozak’s partnership with this client, they were able to find the right mix of cost cuts and reallocation of spending to fund the sales force to target an entirely new market.